RE:RE:I am down $100000oobga wrote: Unlucky13 wrote: For the record I am now long and am down $100000. I owned BTE in the $40s. I need BTE to go back to $15 a share but unfortunately I don't see that happening anytime soon. I have a margain house call and am $40000 in debt. I am not gloating about others losses because I am one of those that has lost. I have to sell my house and will take ten years to get back to even. I can't believe this has gone down so much so fast. All the business about shorting was capitulation on my part because I have done a number to myself. Even the $2 drop this week has come out of nowhere. I can't believe I have done this to myself. I am your side Dude, I am looking for help from Gamblers Anonymous and Investor Loss groups. I should have sold at the first sign of trouble. Baytex isn't the darling it used to be, should have picked CPG.
That's a bummer if true. Even if not, I'm sure there are many people out there that didn't put in stop losses and watched this sucker fall 80% waiting for the reversal, as well as many other energy stocks.
Still, it's crazy how much BTE is getting hammered compared to some others. They really need to do something about the dividend ASAP! Probably turns off a lot of potential buyers looking for cheap energy plays, but still want the company to be in reasonable shape financially.
Bingo!!!! You hit the nail on the head. I am an investor waiting on the sidelines for BTE to cut their dividend. I can't wait to go long on BTE, but I can't do it with oil prices here and management still deciding to pay this dividend. CUT THE DIVIDEND!!!!!!!